TOYO TIRE & RUBBER CO.,LTD. AND SERGIO TACCHINI SPA HAVE AGREED ON A JOINT VENTURE FOR THE JAPANESE MARKET (05.July,2001)

Shozo Katayama, President & C.E.O. of Toyo Tire & Rubber Co. Ltd., a leading Japanese group in the sector of automotive tire, rubber and polyurethane products and Sergio Tacchini, Chairman of Sergio Tacchini Spa, one of the leading Italian groups in sportwear, leisurewear and footwear announced today the incorporation of a joint venture to last ten years for the production and sales of Sergio Tacchini products in Japan.

The new company’s name is Sergio Tacchini Japan K.K., 51% of which is owned by Sergio Tacchini S.p.a. and 49% by Toyo Tire & Rubber Co., Ltd. The head office will be located in Osaka.

The company expects that the sales will reach 4 billion yen in 2006 thanks mainly to important marketing and advertising investments of 1.5 billion yen over the period 2002 − 2006.

The Japanese market where the brand name can be found in 600 points of sale is currently worth 2 billion yen for Sergio Tacchini.

The Sergio Tacchini Group and Toyo Tire have already been linked by a license agreement for 9 years.